The Stablecoins report. The United States President's Working Group on Financial Markets (PWG) released its report and recommendations regarding Stablecoins. In the report they started from the definition of Stablecoin as a digital asset designed to maintain a stable value against the US dollar. They recognized that although it is used to trade other digital assets, it could be extended in the future as a means of payment for both businesses and homes. In order to be used as a means of payment, they pose the need that in addition to being well designed, they must be subject to adequate supervision because without supervision they constitute a risk for users and for the system in general. They propose that Congress act promptly to enact laws to regulate stablecoins. They suggest that issuers must be insured depository institutions, that wallet providers be subject to federal oversight and must establish standards for risk management. They also propose to consider other requirements such as setting limits and on the use of user transaction data. They again mentioned concerns about illicit financial transactions. From my point of view, all the attention that cryptocurrencies attract by public entities is positive because it is one more step on the way for traditional finance to recognize the impact of cryptocurrencies in the daily lives of people and businesses around the world. Kind of like if you can't defeat your enemy, join him. It remains to be seen how the legislation in this regard will be and what would be its scope, especially in terms of regulation and control. Remember this is not financial advice, it is only for the purpose of learning about financial issues. Thank you very much for reading me and always keep the will to make your dreams come true. Image was created with Canva . #crypto #finance #Leofinance